laurus labs limited Corporate Office 2'~ Floor, Serene Chambers, Road No. 7 Banjara Hills, Hyderabad - 500034, Telangana. India T +91 40 39804333 I 2342 0500 I 501 F +91 40 3980 4320 LAURUS Labs Knowledge. Innovation. Excellence November 01, 2018 To The Corporate Relations Department BSE Limited Phiroz Jeejeebhoy Towers, 25 111 Floor, Dalal Street Mumbai - 40000 1 Code: 540222 To The Listing Department National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (East) Mumbai - 400 051 Code: LAURUSLABS Dear Sirs, Sub: Investors/ Analysts Presentation Please refer to our letter dated October 29, 2018, wherein we have intimated the schedule of Investors/ Analysts call to be held on November 2, 2018. In this connection, we enclose herewith the presentation to the Investors/Analysts on the Unaudited Financial Results of the Company for the Quarter and Half Year ended September 30, 2018. The presentation is also being uploaded on the website of the Company - www.lauruslabs.com. Please take the information on record. Thanking you, Yours sincerely, For Laurus Labs Limited.J Regist ered Office : Plot No:21. Jawaharlal Nehru Pharma City. Parawada. Visakhapatnam 531021. Andhra Pradesh, India. CIN : L24239AP2005PLC04 7518 T +91 891 3061 222 F +91 891 3061 270 E info@lauruslabs.com W lauruslabs.com LAURUS Generics LAURUS Ingredients LAURUS Synthesis Active Pharmaceutical Ingredients & Intermediates Specialty lngred~ents for Nulraceutical & Allied Industry Contract Developmenl & Manu lac turing Services
LAURUS LABS LIMITED Q2 & H1 FY19 RESULTS PRESENTATION November 01, 2018 BSE: 540222 NSE : LAURUSLABS
Disclaimer Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Laurus Labs Limited (Laurus) will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances. 2
Business Snapshot Overview Development, manufacture and sale of active pharmaceutical ingredients (APIs) and advanced intermediates Developing and manufacturing oral solid formulations Contract development and manufacturing services for global pharmaceutical companies Sale and manufacture of specialty ingredients for use in nutraceuticals, dietary supplements and cosmeceutical products Product and Service Offerings Anti-retroviral (ARV) Hepatitis C Oncology Large volume APIs for cardiovascular, antidiabetic, antiasthmatic, gastroenterology therapeutic areas Small volume APIs for the ophthalmic therapeutic area ARVs Anti-diabetic Cardio Vascular Proton Pump Inhibitors CNS Commercial scale contract manufacturing Clinical phase development and supplies Analytical and research services Integrated Drug Substance and Drug Product offerings Nutraceuticals, dietary supplements and cosmoceutical products Set up a dedicated block in Unit 4 for global partner, C2 Pharma Filings Commercialized 50+ products 50 DMFs filed Filed 16 ANDAs with USFDA 2 dossier in Canada, 5 dossiers in Europe, 5 dossier with WHO, 2 dossier in South Africa, 2 dossier in India & 59 in ROW. In addition, completed 3 products validations. 2 ANDAs Approved Commenced commercial supplies from Unit 5 NA Infrastructure 4 Manufacturing facilities, (2,829 KL) (1) (2) 5 bn Units / year capacity. Dedicated manufacturing (Unit 5) Capacity (125 KL) for Aspen. Dedicated facilities in other units Manufacturing facilities (2) (1) Includes ingredients products excluding Unit 2 API & Kilo lab capacity (2) APIs, Ingredients and Synthesis (other than Aspen supplies) are manufacturing at Unit 1,3,4 & 6 3
Strategy in Motion ARV & HEP-C Oncology & Other APIs FDFs Synthesis Ingredients Significant increase in HIV patient population with revised WHO guidelines New opportunities in Second Line therapies ARV drugs patent expiry in US & European markets Strong opportunity in Hepatitis C in emerging markets Capitalize on our Leadership Position in APIs in Select, High-Growth Therapeutic Areas. Foray into regulated markets Leadership in select Oncology API. Launching few more products in FY19 & beyond in regulated markets Leverage process chemistry skills to expand API product portfolio in other growing therapeutic areas Contract manufacturing of generic APIs Further expand our API Portfolio in key therapeutic areas such as Oncology, CVS, Anti-Diabetic & Ophthalmology Leverage API capabilities; capture operating efficiencies through backward integration 2 Partnerships in place for commercialization of FDFs in US market. Generate revenue from the emerging markets by participating through tenders. Setting up our own front end in the US market Looking to capitalize in other EMs and developed markets Contract manufacturing for European Customers Leverage API Cost Advantage for Forward Integration into Generic FDF Therapeutic Focus Areas ARV, CVS, CNS, PPI & Anti Diabetic Services offering development and manufacturing across all clinical stages Backward integration of key starting materials and intermediates for new chemical entities Contract with Aspen for supply of hormonal intermediates Strong pipeline backed by successful execution of various projects from pre clinical to commercial in both Development & Manufacturing. Develop our Synthesis Business through various global Innovators and Biotechs by leveraging our R&D and manufacturing strengths Leverage process chemistry skills to strengthen presence in nutraceutical and cosmeceutical sectors as they adopt quality standards at par with pharma industry Expanding from Synthetic process to Natural Extraction 4 4
Transformation of Business Model Set up the R&D Centre at IKP, Knowledge Park, Hyderabad Investment of INR 600 Mn by FIL Capital Management and Promoters. Incorporated First Subsidiary in USA, Laurus Inc. Investment of INR 3000 Mn by Warburg Pincus Crossed INR 20 billion of revenue Commenced commercial operations from Unit 4 Incorporated a subsidiary in Germany Unit 2-Formulations, inspected by Successfully listed on BSE & USFDA with Zero 483 observations NSE Launched maiden FDF product Filed first ANDA for US market Tenofovir in USA, Canada and Acquired 100% stake in Sriam emerging markets. Labs Pvt Ltd. Certified as Great Place to Work for the year 2018 Commenced commercial operations at Unit 1 Crossed INR 10 billion of revenues Commenced commercial operations at Unit 3, Forged partnership with NATCO Commenced commercial operations at Unit 2 Commenced commercial supplies from Unit 5 for Aspen Launched Velpatasvir in the HEP - C segment Received EIR from USFDA for Units 1,2 & 3 Incorporated subsidiaries in UK & USA 5
Formulations Business Global Approach Extensive Manufacturing capabilities across markets with commitment to maintain highest quality standards One Quality Standard for All Markets Current FDF Manufacturing Capacity - 5 bn tab/caps with total Capex investment of ~INR 4,250 mn Tenofovir (TDF) ANDA rights transferred to CASI Pharma for a consideration of ~$3 Mn of which ~$2 Mn will be received by March 2019 based on Milestone Payments. Laurus continues to sell TDF in other countries. Dossier Filings Therapy US ANDA Europe Canada Africa Asia ARV 8 3 2 50 6 Anti- Diabetic 3 1-3 2 CVS 1 - - - - CNS 1 1 - - - Autoimmune 1 - - - - Pulmonary (IPF) 2 - - - - Total 16 * 5 2 53 8 * Have 2 Para IV opportunities and ~7 FTF opportunities in US market with addressable current market size of $10 bn Inspection status for Formulations manufacturing Unit (Unit 2) Region Agency Audit Status USA USFDA EIR Received Europe JAZMP Slovenia, and BGV Hamburg Certificate Received ROW WHO Geneva Certificate Received Europe JAZMP Slovenia, and BGV Hamburg Certificate Received Africa Tanzania FDA, National Drug Authority Uganda, PMPB Malawi, and Pharmacy & Poisons Board Kenya Approvals Received 6
Formulations Strategy for Developed Markets Overview Target Markets Key Therapeutic Areas US Filings US Approvals US Partnerships EU Overview EU Filings Approach US, EU, Canada remains our key focus markets by focusing on the combination of commercialised high volume products, first to file, Para IV opportunity based on IP to address short, medium and long term strategy. USA, Europe and Canada ARV, Anti Diabetic, CVS, CNS and others Cumulatively filed 16 ANDAs Have filed 2 Para IV and 7 FTFs with opportunities worth over $ 10 Billion* annual sales in US Targeting ~10 ANDA Filings per year 2 Approvals received Re negotiated partnerships with DRL and Rising Pharma by reducing products under partnership from 18 to 7 products. 11 products will be developed by Laurus which was concluded in the second quarter by paying necessary development fees back to the partner Exploring possibility of marketing licensed products by Laurus. Followed with partnering model for supply of FDF products and also contract manufacturing. Incremental expenditure incurred for filings in 2 nd quarter Filed 5 Dossiers for ARV & Anti Diabetic products To participate in various country specific tenders and partnering for marketing Commercial supplies under Contract Manufacturing for an European Customer will commence in Q3 2018 * Source: IMS Q3 CY 2017 7
Formulations Strategy for Emerging Markets Overview Target Market Therapeutic Areas Addressable Market Size Filings Approvals Future Filings Growth Potential Emerging Markets of Africa & ARV Tender business remains the forefront of our Formulations Strategy. Integrated approach is key to success and Laurus is well positioned to garner this opportunity Emerging Markets Global fund tenders, WHO Tender, PEPFAR Tender, Various African In-Country Tenders ARV ~$ 2 Billion in Generic Accessible markets Commenced Tenofovir (TDF) Sales in Africa and awaiting participation in tenders for TLD (Tenofovir, Lamivudine, Dolutegravir) Combination Over 50 product registrations filed in various African & Asian Countries Have received approval for TLD under Global Fund-ERP which enables us to participate in various In-Country Tenders. Tenofovir approved by WHO and USFDA TLE (Tenofovir, Lamivudine, Efavirenz) combination to be filed in Nov 2018 Development of other combinations for first line and second line therapy is active and expected to be ready for filing by Dec 2019. Total patients growth is expected to be in high single digit and treatment to reach about 25 mn patients by 2022 8
Strong R&D Capabilities Research-first approach Set up dedicated R&D center in Hyderabad in 2006 prior to commissioning API manufacturing facility in 2007 and further expansion completed in 2017. Key Accreditations R&D team comprising 800 plus scientists (~24% of total employee strength) including over 55 PhDs Kilo Lab at R&D center accredited by international regulators Currently setting up new R&D center in Visakhapatnam 424 Increasing R&D Spend (INR mn) 1,402 907 586 7.4% 3.6% 4.3% 5.1% 1,196 794 5.9% 7.2% 50+ Products commercialized since inception 50 Filed DMFs 230 Patents filed 69 Patents granted 16 ANDAs & NDA / Dossiers filed FY14 FY15 FY16 FY17 FY18 H1 FY19 R&D Spend % of Revenue R & D spent includes OPEX, CAPEX and RMC of FDF validation batches FY 17 numbers are high due to additional CAPEX and initial FDF validation batches 9
Quality Focus & Regulatory Audits Laurus Philosophy One Quality Standard for all markets Regular Inspection at different manufacturing units We maintain consistent quality, efficiency and product safety. We have adopted uniform manufacturing standards across all facilities to achieve standardized quality for all markets. Good manufacturing practices across all the manufacturing facilities, encompassing all areas of business processes right from supply chain to product delivery. 2018 USFDA 2017 WHO, USFDA, EU (Germany) 2016 USFDA 2015 WHO, USFDA, EU (Germany) 2014 WHO, USFDA, CDSCO 2013 WHO 2012 USFDA 2011 KFDA, USFDA, WHO 2010 MHRA 2009 TGA, USFDA 10
Manufacturing Facilities at Parawada, Vizag Unit-I Located at Jawaharlal Nehru Pharma City, Vishakhapatnam, India. API manufacturing facility and includes capacity for ingredients, synthesis and contract manufacturing. Commenced operations in 2007. 315 reactors with 1,141 Kilo Liters capacity. Received approvals from US FDA, WHO-Geneva, NIP Hungary, KFDA & PMDA. Unit-III Located at Jawaharlal Nehru Pharma City, Vishakhapatnam, India. API manufacturing facility and includes capacity for ingredients, synthesis and contract manufacturing. Commenced operations in 2015. 194 reactors with 1,350 Kilo Litres capacity. Received approvals from USFDA, WHO Geneva, & NIP Hungary. Unit-V Located at Jawaharlal Nehru Pharma City, Vishakhapatnam, India. (SEZ) A dedicated Hormone and Steroid facility for Aspen Commenced operations in 2017. 46 reactors with 125 Kilo Litres capacity. 11
Manufacturing Facilities at Achutapuram, Vizag Unit-II Located at APIIC, Achutapuram, Visakhapatnam, India. (SEZ) FDF and API manufacturing facility Commenced operations in 2017. FDF - capacity of 5 bn tablets per year. API block with 12 reactors with 83 Kilo Liters capacity. Received approvals from BVG Hamburg Germany, USFDA, WHO Geneva Unit-IV Located at APIIC, Achutapuram, Visakhapatnam, India. (SEZ) API manufacturing facility and includes capacity for ingredients, synthesis and contract manufacturing. Commercial operations in 2018 32 reactors with 85 Kilo Liters capacity. Unit-VI Located at APIIC, Achutapuram, Visakhapatnam, India. API manufacturing facility. Commercial operations in 2018 42 reactors with 253 Kilo Liters capacity. Unit acquired through slump sale from Sriam Labs (100% Subsidiary) 12
Business Highlights Q2 & H1 FY 19 Overall Total Income at INR 11,273 Mn during the H1 FY19 (Y-o-Y) grown by 11 % and INR 5,883 Mn during quarter grown by 9% Y-o-Y. R & D spent of INR 794 Mn and 7 % as percentage of sales during H1 FY19. Generic API Filed 230 patent applications and 69 patent granted as on Sept 30, 2018 Capacity expansion completed for Lamivudine. USFDA inspection scheduled for Unit VI from 29 th October 2018 Synthesis & Ingredients Strong pipeline of new business opportunities from Innovator/Pharma companies will fuel further growth. Initiation of commercial supplies to an innovator s NDA filing in Q2 Initiation of Integrated service offering (Drug Substance and Drug Product) Generic FDF Tenofovir (TDF) ANDA rights transferred to CASI Pharma for a consideration of ~$3 Mn of which ~$2 Mn will be received by March 2019 based on Milestone Payments. Laurus continues to sell TDF in other countries. 3 product validations completed for formulation apart from filling of 16 ANDAs FDF Opex of INR 814 Mn which includes INR 437 Mn related to the R&D during H1 FY19. Successfully completed JAZMP (Slovenia Regulatory Authority) audit for European Supplies and commercial production for contract manufacturing started in October 2018. 13
Performance Highlights - Abridged Profit & Loss statement Particulars (Rs. mn) Q2 FY19 Q2 FY18 * Total expenditure excluding RMC Growth % (Q2 FY19 Vs. Q2 FY 18) Q1 FY19 Growth % (Q2 FY19 H1 FY19 Vs. Q1 FY 19) H1 FY18 Growth % (H1 FY19 Vs. H1 FY 18) Total Revenues from Operations (Net) 5,883 5,386 9.2% 5,390 9.1% 11,273 10,170 10.8% Total Expenditure* 5,770 4,756 5,190 10,960 9,064 EBITDA 862 1,192-27.7% 825 4.5% 1,687 2,226-24.2% Margins 14.7% 22.1% 15.3% 15.0% 21.9% PBT 218 696-68.7% 226-3.5% 444 1,248-64.4% Margins 3.7% 12.9% 4.2% 3.9% 12.3% PAT 162 488-66.8% 166-2.4% 328 877-62.6% Margins 2.8% 9.1% 3.1% 2.9% 8.6% EPS (Diluted) 1.5 4.6-67.4% 1.6-6.3% 3.1 8.2 (Not annualised) (Not annualised) (Not annualised) (Not annualised) (Not annualised) -62.2% Exchange rate per US$ stood at INR 65.04 by 31 st Mar 18, INR 68.58 by 30 th Jun 18, INR 72.55 by 30 th Sep 18 and depreciated by INR 3.54 (5.44%) and INR 3.97 (5.79%) respectively. Rupee depreciation resulted INR 168 mn loss in Q2 and most of it is unrealized loss (INR 154 mn). The unrealized loss on account of long term foreign currency loans payable over period of around 5 years. Additional cost of around INR 140 Mn incurred in Q 2 for FDF business on transfer of rights on profit sharing on 11 products from DRL and Rising pharma, regulatory filing costs in Europe (3 Dossiers), regulatory filing costs in USA (4 ANDAs). Major Raw material procurement prices increased significantly due to shortage of intermediates due to environmental issues and closure of manufacturing facilities in China resulted lower Gross margins. This will be mitigated from third quarter through alternative sourcing/in house manufacturing and working on sales price increases with customers. Note: Consolidated financials as per Ind-AS 14
Drivers of Revenue Division wise revenue breakup Total Revenues grew by 9% for the quarter (Y-o-Y) and 11% for H1 (Y-o-Y) ARV Segment registered a healthy growth of over 17% in H1 (Y-o-Y) on the back of improved volumes 4% 1% 2% 3% 3% 3% 9% 10% 6% 7% 10% 8% 8% 4% 9% 7% 7% 8% 8% 8% 8% 5% 4% 6% 5% 10% HEP-C business continues to remain muted. However, the segment showed a growth of 24% for the quarter (Y-o-Y) and registered 44% de-growth for H1 (Y-o-Y) Oncology business remained steady and grew by 22% for the quarter (Y-o-Y) & 10% for H1 (Y-o-Y) 69% 66% 67% 71% 64% Other API sales grew over 28 % for the quarter (Y-o-Y). Sales were lower in H1 (Y-o-Y) because of lower sales in Q1 FY19. Synthesis Business continues to report robust revenue growth growing by 58% for the quarter (Y-o-Y), and 62% in H1 (Y-o-Y), with increase in revenue from Unit 5 and also with improved contribution from CMO business Ingredients revenue grew 8% for H1(Y-o-Y) Generic FDF business improved its contribution in H1 FY19 crossing first $1 Mln mark; through US & emerging markets sales Note: Consolidated financials as per Ind-AS Q1 FY19 Q2 FY19 H1 FY19 Q2 FY 18 H1 FY 18 ARV HEP-C Oncology Other API Synthesis Ingredients Generics FDF Segments (INR Mn) Q1 FY19 Q2 FY19 H1 FY19 Q2 FY18 H1 FY 18 Growth Q2 (Y-o-Y) 15 Growth H1 (Y-o-Y) ARV 3,710 3,882 7,592 3,811 6,501 2% 17% HEP-C 241 344 585 277 1,044 24% -44% Oncology 440 465 905 380 821 22% 10% Other API 217 533 750 415 844 28% -11% Synthesis 541 530 1,071 336 663 58% 62% Ingredients 190 107 297 149 274-28% 8% Generics FDF Total Revenue 51 22 73 18 23 22% 217% 5,390 5,883 11,273 5,386 10,170 9% 11%
Abridged Balance Sheet Particulars (Rs. mn) EQUITY AND LIABILITIES As on As on 31.03.2018 30.09.2018 Shareholders' funds Share capital 1,060 1,064 Reserves and surplus 13,766 13,862 Non-current liabilities 2,272 3,898 Current liabilities 13,069 13,911 Total 30,167 32,735 ASSETS Non-current assets 1,252 1,343 Fixed assets 16,440 17,052 Current assets 12,475 14,340 Total 30,167 32,735 As on As on Particulars (Rs. mn) 31.03.2018 30.09.2018 BORROWINGS Long term borrowings 1,417 2,912 Current maturities of LTB 797 755 Short term borrowings 7,585 7,733 TOTAL 9,799 11,400 Note: Consolidated financials as per Ind-AS 16
Established Track Record Of Delivering Growth Efficient Use of Capital and Prudent Leverage 14.5% Pre Tax Return on Capital Employed(1) (%) 16.5% 16.5% 13.7% 7.1% Return on Equity(2) (%) 17.0% 17.4% 12.7% 11.9% Total Debt/Equity Ratio (x) 1.2x 1.1x 0.8x 0.7x 0.6x 4.4% FY15 FY16 FY17 FY 18 FY 19 H1 FY15 FY16 FY17 FY 18 FY 19 H1 FY15 FY16 FY17 FY 18 FY 19 H1 Significant investments in FDF, Unit 4 and Unit 6. FY 19 H1 ratios are calculated based on H1 annualized. Note: Based on consolidated financials as per Ind AS (1) Pre-tax RoCE is calculated as EBIT/Average Capital Employed. Capital employed is defined as Net Worth + Long Term and Short Term Borrowings + Current Portion of Long Term Borrowing - Cash (2) RoE is calculated as PAT/Average Net Worth 17
Management Team Chandrakanth Chereddi ED & Head, Generics FDF & Strategy Ravi kumar V V ED &CFO G Venkateshwar Reddy CS and Sr. GM Legal & Secretarial Tom Versosky President FDF North America Dr. Prafulla Kumar Nandi SVP, Global Regulatory Affairs (Formulations) Dr. GSR Anjaneyulu Exec. VP & Head, Sriam Labs Dr. Satyanarayana Chava Founder & CEO M. Bhaskaraiah SVP SCM C. Krishna Chaitanya Head, Synthesis & Ingredients Dr. V Uma Maheswer Rao Exec. VP & Head, Chemical R&D Srinivasa Rao S Exec. VP Operations Dr. Lakshmana Rao C V ED & Head, Quality Martyn Peck SVP Business Development, Generics - API 18
Corporate Governance Executive Directors Name Background Dr Satyanarayana Chava Whole-time Director, Founder and Chief Executive Officer Ravi Kumar V V Whole-time Director and CFO Chandrakanth Chereddi Whole-time Director and Head of Generic FDF and Strategy Dr Lakshmana Rao C V Whole-time Director and Head, Quality Non-Executive Directors Name Background Dr. M. Venu Gopala Rao Non Executive Chairman and Independent Director Narendra Ostawal Managing Director of Warburg Pincus India Private Limited Aruna Rajendra Bhinge Independent Director; Former Head of Food Security Agenda, APAC at Syngenta India Limited Dr. Rajesh Koshy Chandy Independent Director; Professor of Marketing at the London Business School Ramesh Subrahmanian Independent Director; Founder and Director of Alchemy Advisors Dr. Ravindranath Kancherla Independent Director and Founder-Member and Treasurer of ELSA of Asia in Singapore and Chairman of Global Hospitals 19
Ownership Structure Corporate Structure Laurus Labs Limited Laurus Synthesis Inc. USA Sriam Labs Pvt Ltd. India Laurus Holdings Ltd. UK All are 100% Subsidiaries Laurus Generics Inc. USA Shareholding pattern * Laurus Generics GmbH. Germany 33.4% 5.93% 9.25% 1.1% 0.13% 19.8% 11.6% 18.89% Promoter and Promoter Group Mutual Fund Foreign Portfolio Investors Alternate Inv Funds Financial Institutions/ Banks / Ins Cos Warburg Pincus FIL Capital Management Non- Institutions (Individuals + Others) * As of 30 th September 2018 20
Pharmaexcil Outstanding Exports Award 2017-2018 Laurus Labs bags the prestigious Pharmaexcil Outstanding Exports Award 2017-2018 in Pharmaceutical Sector. Mr. V V Ravi Kumar, ED&CFO, Laurus Labs received the award on 14 of September 2018 in a grand ceremony held in Hyderabad. 21
Global Generics & Biosimilars API Supplier of the year award 2018 22
Laurus Labs is a Fortune 500 Company, Great Place To Work and one of the India s Best Workplace in 2018 Laurus Labs is listed in the Fortune 500 Companies List in India Laurus Labs is certified as Great Place to Work for the year 2018. Laurus Labs is recognized as one of the Best Work Places in Biotechnology, Pharmaceuticals & Health Care sector for the year 2018 23
Results Conference Call Results conference call on Friday November 02, 2018 at 4:00 PM IST Details of the conference call are as follows: Timing 4:00 PM IST on Friday, November 02, 2018 Conference dial-in Primary number +91 22 6280 1214 India Local access Number +91 7045671221 Available all over India Singapore 6531575746 Hong Kong 85230186877 USA 13233868721 UK 442034785524 24
Contact us About Laurus Labs Ltd. Laurus Labs is a leading research and development driven pharmaceutical company in India. The Company has grown consistently to become one of the leading manufacturers of Active Pharmaceutical Ingredients (APIs) for anti-retroviral (ARV) and Hepatitis C. Laurus also manufactures APIs in Oncology and other therapeutic areas. Its strategic and early investments in R&D and manufacturing infrastructure have enabled it to become one of the leading suppliers of APIs in the ARV therapeutic area. Laurus Labs also forayed into Finished Dosages Forms capabilities on the back of existing strengths in APIs. The Company is also driving growth opportunities in the Synthesis and Ingredients businesses. Corporate Identification No: L24239AP2005PLC047518. For more information about us, please visit www.lauruslabs.com or contact: Monish Shah Pavan Kumar N Tel: +91 040 3980 4366 Tel: +91 040 3980 4380 Email: investorrelations@lauruslabs.com Email: mediarelations@lauruslabs.com 25
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